BRYN MAWR, Pa.--(BUSINESS WIRE)--Aqua America, Inc. (NYSE: WTR) is reminding shareholders that the 9 percent cash dividend increase and the five-for-four stock split approved by its Board of Directors on May 8, 2013, was effective on September 1, 2013, and priced with the market opening on September 3, 2013, to shareholders of record on August 16, 2013.
The increased September 1, 2013 dividend will be applied to the shares prior to the stock split. The annualized dividend rate after this increase is equivalent to $0.76 per share, or $0.06 more than its current annualized dividend rate of $0.70 per share. The equivalent quarterly dividend rate after the stock split would be $0.152 per share on the increased number of shares resulting from the stock distribution or $0.608 per share on an annualized basis. The stock split will be effected through a stock distribution of one share for each four shares outstanding as of August 16, 2013.
This is the 23rd cash dividend increase granted by the company in the last 22 years and the seventh stock split in 17 years.
Aqua America is one of the largest U.S.-based, publicly-traded water utilities and serves almost 3 million residents in Pennsylvania, Ohio, North Carolina, Illinois, Texas, New Jersey, Indiana, Virginia, Florida and Georgia. Aqua America is listed on the New York Stock Exchange under the ticker symbol WTR. Visit www.aquaamerica.com for more information.
This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, among others: the amount and date of the dividend increase and stock split and the projected annualized dividend rate. There are important factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements including: general economic business conditions; availability and the cost of capital; disruptions in the credit markets; the success of growth initiatives; and other factors discussed in our Annual Report on Form 10-K for the period ending December 31, 2012, which is on file with the SEC. We undertake no obligation to publicly update or revise any forward-looking statement.